Specific Treatment of HKSAR Retirement Plans Sample Clauses

Specific Treatment of HKSAR Retirement Plans. The United States shall treat as deemed-compliant FFIs or exempt beneficial owners, as appropriate, for purposes of sections 1471 and 1472 of the U.S. Internal Revenue Code, HKSAR retirement plans described in Annex II. For this purpose, a HKSAR retirement plan includes an Entity established or located in, and regulated by, the HKSAR, or a predetermined contractual or legal arrangement, operated to provide pension or retirement benefits or earn income for providing such benefits under the laws of the HKSAR and regulated with respect to contributions, distributions, reporting, sponsorship, and taxation.
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